July 11, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Bezeq The Israel Telecommunication Corporation Limited (OTCMKTS:BZQIY) shares over potential securities laws violations by Bezeq The Israel Telecommunication Corporation Limited and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Bezeq The Israel Telecommunication Corporation Limited (OTCMKTS:BZQIY) concerning whether a series of statements by Bezeq The Israel Telecommunication regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On June 20, 2017, the Israel Securities Authority (ISA) raided offices of Bezeq The Israel Telecommunication Corporation Limited on suspicion of violations of securities laws by its chairman and majority shareholder, Shaul Elovitch. The ISA said that it is investigating possible misconduct with regards to transactions related to the controlling shareholder. In addition, an Israeli business journal reported that the ISA is investigating the merger of Bezeq The Israel Telecommunication Corporation Limiteds television unit with its parent company, and payments the unit made to Eurocom, an Elovitch controlled company, under pressure from Elovitch.
Shares of Bezeq The Israel Telecommunication Corporation Limited (OTCMKTS:BZQIY) closed on June 26, 2017 at $8.34 per share.